IslamicFinance.de

Petronas has announced price guidance levels for an offering of US dollar bonds, which includes a sukuk tranche. The senior unsecured notes of seven, 10 and 30 years have been announced to yield around 150bp, 175bp and 220bp over US Treasuries, respectively. The sukuk of five years is being offered at a yield of around 135bp over US Treasuries and be in a Wakalah structure. The 144A/Reg S senior unsecured notes are expected to be rated on par with the company at A1/A- (Moody's/S&P). Bank of America Merrill Lynch, CIMB, Citigroup, JP Morgan and Morgan Stanley are the active joint bookrunners. Deutsche Bank, HSBC, Maybank and MUFG are passive bookrunners.